Symmetrical Triangle Bottom
only for self study
The classic strategy :
Entry: Take a long position at the breakout of the resistance (blue)
1hour or 4hour closing
Stop: The stop is placed blow the last lowest
Target: Theoretical target of the pattern
Advantage: False breakouts are rare (only 16%)
Disadvantage: Pullbacks are usual (60%) so it could be judicious to wait a pullback to take position
- The exit usually occurs towards 80% of the distance of the pattern.
- Sharping and strong breakouts give better performance
- The performance is better when the triangle is formed at the beginning of a trend
- Avoid taking a position if the breakout occurs before the 3 / 4 of the pattern
- Pullbacks are harmful for the performance of the pattern
The classic strategy :
Entry: Take a long position at the breakout of the resistance (blue)
1hour or 4hour closing
Stop: The stop is placed blow the last lowest
Target: Theoretical target of the pattern
Advantage: False breakouts are rare (only 16%)
Disadvantage: Pullbacks are usual (60%) so it could be judicious to wait a pullback to take position
- The exit usually occurs towards 80% of the distance of the pattern.
- Sharping and strong breakouts give better performance
- The performance is better when the triangle is formed at the beginning of a trend
- Avoid taking a position if the breakout occurs before the 3 / 4 of the pattern
- Pullbacks are harmful for the performance of the pattern
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.